LIVE Market Technicals with CK Narayan

If you care to look at technical charts before taking investment/trading decisions in the stock market, this is the place you should be visiting regularly. CK Narayan of Chart Advise, Dalal Street's most seasoned and arguably senior-most expert in market technicals, will share his technical tips on the go right here on this page. Stay logged in!

Ashok Leyland: Stock eyes Rs 91 level
We saw some brisk price action yesterday in Ashok Leyland and stock gained handsomely. We saw some brisk short covering occur too in the futures. If rise continues, we may start seeing fresh OI build up from today too. The immediate resistance is seen around Rs 82 levels but the bigger supply zone is around Rs 91 and the stock may attempt a rise to those levels in the coming set of days.

Trent: Rally to continue in stock
The recent news flow in Rel Retail has had a runoff effect on other retail counters like Trent. Prices have picked up once again and are seen headed higher. The stock has been on a good uptrend already and this news flow only leads to furtherance of the trend. The next big high to challenge lies at Rs 800 and it seems like Trent may reach that and even overhaul it in the near term.

Apollo Tyre eyes higher levels
The rise in Apollo Tyre has been slow but quite steady. Moving through a sequence of higher tops and bottoms, the stock managed to rebuff bearish attempts in the last week or more to revive the trend yet again. In the process, the stock is now about to take on a resistance at the 50% retracement of the decline. Momentum pick up suggests that this attempt may be successful, in which case a continuation towards Rs 133/136/140 targets seem likely.